>>8653014 (OP)Copyright. In Japan, h-doujins are technically copyright infringement. A lot of companies will turn a blind eye because it can be good for business depending on the subject of parody. However, there's also many companies explictly hostile towards h content of their IP. Pokemon being a primary example where a prolific artist got arrested after she penned copious amount of pokemon hentai.
Worth noting that this is largely only a problem for Japan, as the US and other countries have laws that protect such parody.